HY investors in stand-off with Virgin Media on bond rights

08 Mar 2013

Some investors have voiced discontent over how Virgin Media’s existing high yield bonds have been handled since its takeover by Liberty Global in February.

The US cable investment group, led by John Malone, announced an agreed $23.3bn takeover on February 6, which was financed in just two days with the issue of £2.3bn of new Virgin Media bonds. Another £3bn of leveraged loans followed soon after.

Meanwhile, the company set about dealing with ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial